Bank rumours feed market frenzy
Investors continued to pour money into banking shares on Feb. 29, driving up indices on both of the nation's stock exchanges.
Investors continued to pour money into banking shares on Feb. 29, driving up indices on both of the nation's stock exchanges.
Amid heavy rumours that it was angling to take over rival Sacombank (STB), Eximbank (EIB) saw 2.6 million shares traded through order matching on the HCM Stock Exchange. But EIB also witnessed another 38.7 million shares changing hands through negotiation – worth another 676 billion VND (32.2 million USD). Sacombank (STB) also ran up a volume of 5.9 million shares, and both shares hit their ceiling prices.
The noisy fight between Sacombank and Eximbank has helped extend the market's recent winning streak to 30 sessions and helped lift benchmark indices by over 20 percent.
STB alone has hit the ceiling for four consecutive sessions, while EIB has soared to its ceiling price for two successive sessions with nearly 70 million shares traded through negotiation.
The activity prompted the State Securities Commission on Feb. 29 to request the leaders of the two banks to explain their share performance in recent days.
Military Bank (MBB) was the most-active share on the southern bourse on Feb. 29, with over six million exchanged, while it saw another 10.5 million shares traded through negotiation. And another 21 million shares of Hanoi Housing Bank (HBB) were also traded on the Hanoi Stock Exchange, following its record high on Feb. 28, with over 40 million shares changing hands.
On the HCM Stock Exchange, the VN-Index managed to recover after falling for most of the morning, closing up by 0.34 percent over the previous session before closing at 423.64 points. The value of trades soared by 35 percent over Feb. 28's level to a record high of 2.3 trillion VND (109.5 million USD) on a volume of nearly 126 million shares.
The VN30 Index, which tracks the performance of the 30 leading shares by capitalisation and liquidity, also rose by 0.89 percent to 485.18 points.
On the Hanoi Stock Exchange, the HNX-Index recouped 2.37 percent of its value after Feb. 28’s loss, closing at 68.68 points. The value of trades decreased by nearly 32 percent from the previous session to 691.5 billion VND (32.9 million USD), while volume declined 38 percent to 84.4 million shares. Advancers edged decliners on the northern bourse by a margin of 154-119.-VNA
Amid heavy rumours that it was angling to take over rival Sacombank (STB), Eximbank (EIB) saw 2.6 million shares traded through order matching on the HCM Stock Exchange. But EIB also witnessed another 38.7 million shares changing hands through negotiation – worth another 676 billion VND (32.2 million USD). Sacombank (STB) also ran up a volume of 5.9 million shares, and both shares hit their ceiling prices.
The noisy fight between Sacombank and Eximbank has helped extend the market's recent winning streak to 30 sessions and helped lift benchmark indices by over 20 percent.
STB alone has hit the ceiling for four consecutive sessions, while EIB has soared to its ceiling price for two successive sessions with nearly 70 million shares traded through negotiation.
The activity prompted the State Securities Commission on Feb. 29 to request the leaders of the two banks to explain their share performance in recent days.
Military Bank (MBB) was the most-active share on the southern bourse on Feb. 29, with over six million exchanged, while it saw another 10.5 million shares traded through negotiation. And another 21 million shares of Hanoi Housing Bank (HBB) were also traded on the Hanoi Stock Exchange, following its record high on Feb. 28, with over 40 million shares changing hands.
On the HCM Stock Exchange, the VN-Index managed to recover after falling for most of the morning, closing up by 0.34 percent over the previous session before closing at 423.64 points. The value of trades soared by 35 percent over Feb. 28's level to a record high of 2.3 trillion VND (109.5 million USD) on a volume of nearly 126 million shares.
The VN30 Index, which tracks the performance of the 30 leading shares by capitalisation and liquidity, also rose by 0.89 percent to 485.18 points.
On the Hanoi Stock Exchange, the HNX-Index recouped 2.37 percent of its value after Feb. 28’s loss, closing at 68.68 points. The value of trades decreased by nearly 32 percent from the previous session to 691.5 billion VND (32.9 million USD), while volume declined 38 percent to 84.4 million shares. Advancers edged decliners on the northern bourse by a margin of 154-119.-VNA
You should also see
Vietnamese Deputy PM, Venezuelan President hold talks
Vietnamese Deputy Prime Minister Tran Luu Quang held talks with President of Venezuela Nicolás Maduro Moros in Caracas on April 18, as part of his ongoing official visit to the Latin American country.
See more
Business
Central bank plans to auction gold bars on April 22
The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
Business
Hanoi to host Vietnam Medipharm Expo 2024
The 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medipharm Expo 2024) is scheduled to take place in Hanoi from May 9 to 12, an official of the Ministry of Health (MoH) told a press conference on April 19.
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
